The Influence of Innovation on Social and Economic Development of the Russian Regions

Abstract

The article provides estimates of innovation parameters’ influence on social and economic development of regions measured as per capita gross regional product. The empirical part of the research comprises the regression model that demonstrates interrelations in a region-wide breakdown, considering the differentiation of innovation development level of regions grouped into homogenous clusters. The results provide evidence of two forces. One of these stands for the traditional academic and industrial science attributed with plan-fact indicators. The other, in its idea and contents, is fully matching with the R&D market concept since it exists and functions in a competitive environment, strives to self-financing and commercialization. Therefore, performance indicators and growth rates of this segment are far ahead the ones of the traditional science.

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